There have been a few requests to reveal my trading plan. So I thought I would take a moment to explain why I have not revealed such information. I have been trading on and off for the past year and I was a typical newbie hopping from one trading plan to another trying to find what works for me. After little success at that I finally realized something. You can trade someone else’s plan all you want, however, you probably won’t experience similar results that as the author. I believe there are several reasons for this. First of all you have different experience and knowledge compared to the author. Also, no matter how well they explain their plan you won’t see it exactly how they do. So after these realizations I decided to come up with my own some what original plan. I took indicators from my last plan I was using and then added something I never considered before. I have left my original indicators on the charts, the Moving averages. However, I knew I need something else and so I started searching and then I found something that appears to be promising and I just went with it. It appears to be working decently. However, like any other plan it will fail at times which you have witness with some of my trades. However, it also works very well, and you have witnessed those trades as well. I have yet to do a full back test on my plan so I am just hopeful for the time being. Furthermore, I do not have a complete plan. I just have an entry and some position sizing so of course it is not complete yet.
So for all those newbies out there I recommend you look at all the plans you can get your hands on, because that was a great learning experience for me. I learned how other people use indicators for their view of how to react to the market. However, I also urge you try to make your own original plan so that you see things your way and I think your success will dramatically increase. I am far from having my complete trading plan, but I honestly believe I am moving down the best path for one of my goals (first million after taxes in less than 6 years).
So rock on and define your own plan and trade the plan and I believe you will be just fine